“There are currently $ 86 trillion in political currencies. Although they are called Fiat, they are in fact political. And I believe that these currencies are slowly being consumed by a better currency that is global, decentralized and smooth. It's just a better currency. Bitcoin is a better currency. And I believe Bitcoin will be one in five [cryptocurrencies]. “
Asked if governments would not try to prevent such a move, Draper replied:
“That's interesting: Governments need to fight it at their own risk. For example, we see how China counteracts and loses all its entrepreneurs. Japan, on the other hand, says: “Bitcoin is a national currency for us – always with it.” Then one has to think of the companies and their point of view. For example, Binance, with a market capitalization of $ 10 billion, has decided to leave China because it was banned there. Then they went to Singapore until there were too many regulations. Then they moved to Malta. I think the different countries have to compete for us, or they stick with their political currencies in the Middle Ages. “
Blockchain will conquer the world
Draper continued that cryptocurrencies and blockchain technology will do more than “eat” the value of traditional currencies. Rather, they also opened the way for change in the way governments around the world act. He said:
“I believe that government action is facing huge, gigantic changes. That's possible if you combine all these technologies. There is a token that is global and decentralized. The token is on a perfect ledger called blockchain, so you do not need all that special accounting. The bookkeeping is already done. “
” And then you can create smart contracts and all those contracts are in the cloud. Everything that happens after a contract happens. Then there is Big Data [mass data]. One has the opportunity to take that data, combine it with artificial intelligence and then make decisions. Think about what a bureaucrat does. You can replace the whole bureaucrat with artificial intelligence, a smart contract, and the blockchain. “
Sources: Crypto Invest Summit, YouTube, Pixabay
Author: Peter Joost – Source Post: https://www.kryptovergleich.org/tim-draper-prognose-bitcoin-kurs-erreicht-250-000-usd-bis-2022/
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